Pillar Commercial Acquires Office In Dallas From Chris Murphy, Robert Hill, Gary Carr & Chase Tagen
8222 Douglas Avenue, Dallas, TX 75225
Building Size
76,741 SF
Asset Type
Office
Closing
Jan 21, 2022
AI
8222 Douglas Avenue, a 76,741 square foot office property located in Dallas, was recently sold. The transaction took place on January 21, 2022. The buyer, Pillar Commercial, acquired the asset in the Dallas market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Date: 01/21/2022
- Address: 8222 Douglas Avenue
- Market: Dallas
- Square Footage: 76,741
Chris Murphy, Robert Hill, Gary Carr, and Chase Tagen from Newmark represented Pillar Commercial as brokers in this transaction. The lender involved in the deal was CommunityBank of Texas.
Players
Dallas Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93